Helius Medical Technologies (Nasdaq: HSDT) has announced that it has raised more than $500 million in a private investment in public equity offering led by Pantera Capital and Summer Capital to launch a Solana-focused treasury company.
Other backers include Big Brain Holdings, Avenir, SinoHope, FalconX, Arrington Capital, Animoca Brands, Aspen Digital, Borderless, Laser Digital, HashKey Capital, and Republic Digital.
The deal includes common stock, pre-funded warrants, and stapled warrants exercisable over three years, potentially expanding the total investment to $1.25 billion. Net proceeds will be used to acquire SOL, which Helius plans to designate as its primary reserve asset.
Helius’ move is part of a growing wave of public companies that are adding SOL to their balance sheets, not just for speculative upside, but for utility, yield, and strategic exposure to the Solana blockchain ecosystem.
Firms such as Upexi Inc. (UPXI), DeFi Development Corp. (DFDV), and Sharps Technology (STSS) have already accumulated millions of SOL. As of early September 2025, 13 publicly listed companies collectively hold ~8.9 million SOL (worth roughly $1.8 billion) — which equates to about 1.55% of Solana’s circulating supply.
Key features of these SOL treasuries include staking yield at ~7%, where SOL is staked to help secure the network in return for rewards, as well as holding SOL outright for its performance and ecosystem growth. According to the press release, Helius will pursue the same approach, aiming to benefit from Solana’s native staking yield.
The initiative will be overseen by Joseph Chee, incoming director and executive chairman of Helius and founder of Summer Capital, with Pantera Capital’s Cosmo Jiang as board observer and Dan Morehead as advisor.
The offering is expected to close by September 18, pending customary conditions. Clear Street acted as financial advisor, with Maxim Group and Tiger Securities as co-placement agents.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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